Presco Plc (Thursday, Nov. 2nd, 2017) released her unaudited Q3 results for the period ended Sept. 30th, 2017. Revenue went up by 41.8% while net income dipped by 12.2% compared to Q3 ’16 figures.
Cost of sales as a proportion of revenue went up by 29.2% against 24.7% recorded in Q3 ’16 and was impacted by pressured agribusiness environment.
A major drag on net income was loss recorded on the fair value of biological assets which depressed operating profit compared to N4.41 billion gain posted in the comparable period of 2016.
Key Highlights:
- Presco Plc recently releases her unaudited Q3 results for the period ended Sept. 30th, 2017. Revenue went up by 41.8% while net income dipped by 12.2% compared to Q3 ’16 figures.
- Cost of sales as a proportion of revenue went up by 29.2% against 24.7% recorded in Q3 ’16 and was impacted by pressured agribusiness space.
- A major drag to net income here was loss recorded on the fair value of biological assets which depressed operating profit compared to N4.41 billion gain posted in the comparable period of 2016.
- Debt-ratio-to-equity dropped marginally to 59.0% from 60.0% in the comparable period and impacted on fringe growth was seen on shareholders’ fund.
- Presco currently trades at a book value per share higher than its peers and industry.
- Our full valuation of the company will be
undertaken and communicated soon.
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